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1/ A few hours ago Christie's announced the public auction of a collection of 9 Cryptopunks.
https://www.christies.com/features/10-things-to-know-about-CryptoPunks-11569-1.aspx
They are estimating the value of this collection at $7 - 9mm.
How did the market react to this news? Why so much? What does this mean for Cryptopunks?
https://www.christies.com/features/10-things-to-know-about-CryptoPunks-11569-1.aspx
They are estimating the value of this collection at $7 - 9mm.
How did the market react to this news? Why so much? What does this mean for Cryptopunks?
2/ The market is going absolutely wild.
In the last 3 hours 135 punks were sold, bringing the lowest priced punks (aka "floor punks") up from 14 ETH to nearly 20 ETH (40%+ gain)
We also have seen the number of unique wallets increase to 2000+ for the first time ever.
In the last 3 hours 135 punks were sold, bringing the lowest priced punks (aka "floor punks") up from 14 ETH to nearly 20 ETH (40%+ gain)
We also have seen the number of unique wallets increase to 2000+ for the first time ever.
3/ http://cryptoslam.io shows that punks have done almost $10mm is sales in the last 24 hours, dwarfing every other NFT class
4/ Punks aren't just being sold. Earlier today 1400 punks were up for sale on LL- and now that number is now down to 1,171. This shows they are quickly being pulled off the market, contributing to what might turn into a supply shock. https://www.larvalabs.com/cryptopunks/forsale
5/ Why the estimated value of $7 - 9mm? Most of that value can be attributed to the alien in this collection. https://www.larvalabs.com/cryptopunks/details/635
There are only 9 aliens total, and the last one sold for $8.7mm all on its own.
It's reasonable to assume this $7 - 9mm range is conservative.
There are only 9 aliens total, and the last one sold for $8.7mm all on its own.
It's reasonable to assume this $7 - 9mm range is conservative.
6/ I speculate that if this sale were to blow through expectations (Beeple sold for $69mm) we could see a re-pricing of other attributes in this collection though.
This could include more common traits like purple caps, wild hair, big shades, and dev punks.
This could include more common traits like purple caps, wild hair, big shades, and dev punks.
7/ In addition to all of this auction buzz, @gmoneyNFT and @justinaversano are hosting a month-long, city-wide public art exhibit called "pixelated" that is going to feature 96 punks all over the streets of Miami, bringing more attention to punks https://www.saveartspace.org/pixelated
8/ What does this all mean for punks?
I'm not sure, but I wouldn't be surprised if some collectors who were on the fence get priced out this month. I have a feeling it's going to be a fun month to follow this space, meet the community, and take pictures of punks all over miami!
I'm not sure, but I wouldn't be surprised if some collectors who were on the fence get priced out this month. I have a feeling it's going to be a fun month to follow this space, meet the community, and take pictures of punks all over miami!
@CryptoNovo311 @DisKent5176 @CryptopunkStats @Abo_BTC @Cryptopunk1314 @punk4156 @ArtGeebz @ClaireSilver12 @ddaavvee1234 @BalancedPortfo1 @VonMises14 @OnlyToasted @digitalartchick @Debussy100 @emmy_alm @GolfLaugh @tonyherrera @garyvee @danpeguine @justintrimble @MigMora @DeezeFi
I want your opinions:
a. Where do you predict the final auction price will land?
b. Who is going to win this auction?
c. What do you think this might mean for pricing of more common traits in this collection like PHC, wild hair, big shades, etc.?
a. Where do you predict the final auction price will land?
b. Who is going to win this auction?
c. What do you think this might mean for pricing of more common traits in this collection like PHC, wild hair, big shades, etc.?
Sorry to everyone I couldn't tag. Ran out of room. Want your opinions too :)
